Acadia Realty FFO Edges Up

(RTTNews) - Acadia Realty Trust (AKR) Wednesday reported fourth-quarter funds from operations of $15 million or $0.27 per share compared with $14.7 million or $0.29 per share last year. Results for the recent quarter reflect a higher share count.

Analysts polled by Thomson Reuters estimated FFO of $0.32 per share for the quarter.

Net income for the quarter was lower at $12 million or $0.22 per share compared with $21 million or $0.42 per share last year.

Revenue increased to $44 million from $31.8 million last year.

For fiscal 2014, the company expects FFO of $1.30 to $1.40 per share, while analysts expect $1.36 per share.